Most Popular
-
1
1 in 3 Koreans live alone, family types becoming diverse
-
2
Korea, Japan finance chiefs vow to tame rampant FX market volatility
-
3
US 'incredibly concerned' about suspected NK-Iran military ties
-
4
K-pop group's manager dismissed for setting up spycam in theater dressing room
-
5
K-pop singer lost consciousness after being hit by foul ball, cancels show
-
6
Korean Muslim YouTuber's plan to build mosque in Incheon goes viral
-
7
Contentious grain bill put directly to plenary meeting for vote
-
8
Why is Apple Pay struggling to get purchase in Korea?
-
9
Yoon's office denies considering liberal figures for key posts
-
10
Seoul says Fu Bao loan 'not going to happen'
[EQUITIES]Hyundai Wia to post Q3 earnings below market estimates: analyst
By 안성미Published : Oct. 18, 2016 - 16:01
[THE INVESTOR] HMC Investment Securities on Oct. 18 projected Hyundai Wia, the automotive parts unit of Hyundai Motor Group, will post earnings below market consensus in the third quarter.
Hyundai Wia’s third-quarter sales will decrease 3.4 percent on-year to 1.75 trillion won (US$1.54 billion), while operating profit will plunge 34.8 percent to 72.8 billion won, the brokerage said.
The HMC Investment Securities’ estimates are below the previous market consensus of 4.9 percent for sales and 14.8 percent for operating profit.
Hyundai Wia’s third-quarter sales will decrease 3.4 percent on-year to 1.75 trillion won (US$1.54 billion), while operating profit will plunge 34.8 percent to 72.8 billion won, the brokerage said.
The HMC Investment Securities’ estimates are below the previous market consensus of 4.9 percent for sales and 14.8 percent for operating profit.
“The earnings are affected by the production decline in domestic facilities and cost incurred by building new plants,” Lee Myung-hoon from the brokerage said.
However, Lee said Hyundai Wia’s long-term growth momentum is still robust, driven by increased engine supply within the Hyundai Motor Group.
The securities firm maintained a “buy” recommendation and a target price of 130,000 won.
By Ahn Sung-mi (sahn@heraldcorp.com)
![[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=652&simg=/content/image/2024/04/18/20240418050645_0.jpg&u=20240418181020)
![[Today’s K-pop] Zico drops snippet of collaboration with Jennie](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=642&simg=/content/image/2024/04/18/20240418050702_0.jpg&u=)